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house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed conservatives say this is something that would help job growth. clearly what we're seeing here is republicans are not speaking with one voice. >> republicans should not be conceding that the federal government needs more money, negotiating with ourselves and treating the president's proposal like it's serious. >> we do agree that 8% of the american people are getting about 80% of this tax cut shouldn't have their taxes raised. my suggestion was let's take the one area we agree and take it off the table. >> but zo
live. melissa: we start tonight with breaking news. it has been a tumultuous day in washington. both sides apparently in a total deadlock in the fiscal cliff negotiations. president obama is expected to make a statement on where things stand at any moment here. and with a preview we have fox businesses peter barnes. he is at the white house. peter what do we expect to hear? >> well, melissa, right now the president is finishing up on meeting with senate democratic leader harry reid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. we expect the president to say that he still wants to get a deal with republicans to do that. that is still going to be time. however, that they will have to do it after the christmass3 holiday. the president plans, is planning to go to hawaii for christmas with his family. speaker boehner has left town. gone back to ohio. for the holiday. the senate is expected to come back on, on december 27th, the thursday next week, which is the earliest that they would be expected to get back to work on th
wash memorial -- at a washington memorial service he is expected to attend the final memorial with the first lady. >>> travel was a real nightmare for a lot of people earlier this week, but not today. good news for those of you heading home for the holidays. david lee miller, david? >> doug, what a difference a couple of days makes. some 5. million americans will be flying this holiday season. you can take a look at laguardia, despite this is one of the busiest travel days of the year things are moving like clockwork. not a single flight has been canceled that we have seen so far or delayed. some of the arrivals are getting here earlier than expected. as you mentioned just a couple days ago there were some 1,000 cancellations. that's when a storm slammed the midwest. now for the most part system wide there are very few problems to report. only 40 cancellations and about 500 delays. this is across the entire united states. we talked to a couple of travelers here at la gay you are de yaw. at laguardia. they always prepare for the worst, but it looks to be a relatively easy trave
that reflects conservative ideas. match that with the researchers in washington that to the policy work for heritage. connell: i think a lot of people will hear or read about this today and think about the conversation we have been having about the future of the republican party. does the tea party still have, you know, lindsey graham just put a statement out saying he is very disappointed that demint is leaving. the conservative movement lost a strong voice. he will do a great job at heritage. is this part of that story? >> i think senator demint believes that the republican message going into the election was a strong one. it just simply was not well articulated. i agree with senator demint. i do not believe that the republican party has to transform its position and become more moderate. take an idea like economic growth. the difference between 2% growth and 3.5% is a different like night and day. senator demint told me he started his career as a market researcher and advertising. he knows how to communicate with people. he became very frustrated sitting in the senate failing to do a
is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his expectations for what can be accomplished some democrats said a grand bargain shouldn't be that hard to reach. >> we ought to take peeker boehner and the president's last offer and split the difference and it would be a package 2.6 trillion can couple that with 1.1 trillion and that would be close to four trillion needed to stabilize the debt and bring it down. >> the president and members was congress will return to washington wednesday or thursday and try to hammer out a deal. most likely a short-term deal to get us pa
, as tragic as it is, brings us a little closer together both in the nation and in washington, that would be a good thing. >> all right. top of the hour. good morning. 6:00 on the east coast, it's wednesday, december 19th. christmas is almost here. >> very respectful dialogue. the nra had a respectful statement. i think a lot of people showing respect on this. >> feel something may be be happening. >> feel some grown-ups, maybe. there are, of course, exceptions. >> there are a few. we have mike barnicle with us. you're not an exception. beautiful piece in "the daily news" today. we'll read that in must read. thank you very much. former treasury officials. mark ratner is with us as well. he has a must read. i'm serious. >> beautiful. >> also in washington, washington anchor for "bbc world news america" katty kay. >> no pieces, sorry. >> you'll write one next time. thank you. so we've got a lot to get to this morning. >> a lot to talk about today. >> those exceptions, what are you talking about? >> just in the conversation about everything you thought there were two exceptions. >> rick perr
world, the business community, everybody around washington is saying, look, guys, make some progress here. neil: what worries me now is when the next shoe drops. democrats, largely 80 congressman did today, following the congressional black caucus and others like schumer said there's no reason to go after entitlements right now. what's to stop republicans from saying, we're outs of here, we're done. >> there is not a lot to stop republicans from saying, nope, then this is not going to work. we are not ging to be able to come to a consensus before christmas or before we go off the cliff. a big he want of that was john boehner. he is heded home to ohio for the weekend. obviously, the lines of communication remain open with the white house, but that, to me, is very much a move, a political move, saying, hey, you need to come to the table a little bit more, white house and democrats, if we have any chance of making progress and getting a deal. neil: elizabeth? >> well, i think anyone in the situation would agree you can't make theperfect the enemy of the good, but agree that no deal at t
. all day long on cnbc, we are here in washington holding lawmakers feet to the fire and finding out if they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about
washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. re we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with super storm sandy. we have businesses that are close not reopening and this is happening in areas hit by the storm. the vital thing is to get the money flowing and more important than congress hagsng. snurkswe need to swallow pork to get what we need. >> no, we don't. you look at sandy spending bill if dc got hit and not new york or new jersey . two weeks after cat can the hit the new orleans area. that area got money. we are still waiting because it is hung up by pork. you are seeing 3 billion to pair or fixnd new cars for the fbi and new trees in cemeteries and silly things like that. it is pretty bad. this could pass on its
yourself in washington, d.c. and virginia? no, you wouldn't. we need these big salaries because we need to recruit top talent. go to manhattan. >> that is the point. if bailouts maintain the government center focus to our economy? >>es, and it's sucking the% whole economy and we're getting two or 3 percent growth. there are $200,000 jobs in north dakota in the oil field. i would tip into paying to move the bankers to north dakota. >> by the way, on bailouts in terms of banks, there are established procedures, if you have good collateral, you get a short term loan and get over the cash crisis. that is what they should have done in 20078 instead of putting in equity capital. >> neil: coming up next. >> kick the can road down the road for too long. >> we're not going to be able to solve it by kicking the can down the road and doing all the gimmicks in the past. >>> they say they don't wanted to kick the can but steve forbes that is exactly what washington should do. this is flip side. you do not want to miss. [ male announcer ] you are a business pro. governor of getting it done. you know
it to run up as much debt as he pleases. "the washington post" offers to push the debate way into next year and then boehner says, okay, but only if the president agrees to spending cuts. so, mere is where we stands this monday morning, no deal, but a shift in principle by speaker boehner. tell us what you think of boehner's proposal. i don't think that conservative will like this one. post it on our facebook page. the nation's mood is somber this morning, the country is in mourning following the events friday in newtown, connecticut, father jonathan morris on that next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine en brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps
of the year. >> steve: not since mr. smith went to washington has the movie inspired the senate. harry reid rled it out. it is the end of the year. >> brian: it was incredible to watch the president have a 45 minute press conference and john boehner have a 45 second. >> steve: sometimes less is more . >> brian: they are not getting along. >> gretchen: one good message from the lincoln movie other than not getting assassinated. he set out what to do >> brian: he won over leaps and bounds in order to get a deal >> chris: he did. >> gretchen: that's what they are doing now. or trying tompt approaching the fiscal cliff. the democratic senate took the night off to watch the movie. doug is in washington with us. were you invited. >> of course not. you have to figure out the pop corn was free . the movie was free . we know that they love free stuff here in washington. free movie tickets may have been tough for the guys to resist. it is possible that watching the lincoln movie, may have inspired the members of congress. at the very least. we know that a minimum of 150 minutes last night. two and ha
comes out of washington, if anything. of course, mr. boehner has gone back to his home in ohio for the weekend. the president is on duty at the white house. there are phones, as mr. boehner said, in southern ohio where he lives. if there are any developments, the two gentlemen certainly will be able to get in touch with one another. meantime, there are some individual stock stories of interest at this hour. and one of them concerns facebook. be a facebook lockup expires today and 150 million shares will open up on the market. the last time we had a lockup expiration many expected to see the stock drop. instead, it rallied. right now, no, not so much. facebook down about 89 cents so 3% at 2735. but it is up about 25% over the past three months. julia has the details for us from washington. >> tyler, this is the fourth of five lockup expiration periods. today's potential sellers could also sell in ipos. we shouldn't see any pent up demand to sell. facebook shares are dropping today, off about 3 percent percent as you mentioned. a bit of profit taking after the company's massive r
. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the details are very sketchy on what modified plan b actually means in practice. but basically, it's something he can keep in his hip pocket right now in case these negotiations with the president don't bear fruit. and presumably what we're talking about here, carl, is a little
>> steve: you have a schism in the republican party. they went to washington. look they are not going to raise on anybody and we'll cut thengs . you have the other faction . republican party saying look, we didn't do so well in the last election . we have to compromise with the president to get something done . that's why john boehner said i don't have a votes mr. #2: if you give me plan b i am vetoing in. republicans were saying we are giving you something and go home. they decided plan b will not pass . they are not coming back until after christmas. mr. boehner said i tried. you cut a trial. newt kning rich sat down with bill clenton and 30 days of one and one negotiation . he said it is time to go back to that. >> my advice to them have every single committee starting january 3rd hold hearings on every lempt waste in the federal government . let the country see all of the different ways to waste money to peck up on can congressman cantor. speaking is the problem and drive issue after issue . we would like to fix the tax rates, and any time the president and democrats want to talk
: you are looking live at washington d.c. in the capitol, believe it or not law makers hoping to avoid the fiscal cliff are making progress. aides said they were closer to cutting a deal. but one thing that will not click is tax hikes. how much would they be and who will would have to pay them when it come to revenue. joining us is saradoga springs, utah mayor mya love. he wanted tax increases and would now settle for 1.2 trillion and impact $400,000 or more. and sounds like he squished a bit on it and what do you think about the supposed deal? >> it is not much movement from the president's side. in if you are going for $250,000 to $400,000 that is not much. young came out with a report saying if you tax the top two brackets that will cost you 700,000 jobs. these are janitors going in and having their manager say i am sorry wecan't afford you any longer and these people are working pay check to pay check. they need mon tow feed their family. >> gretchen: - >> steve: the president wanted a two year debt limit. and that was the republicans leverage. it seems like the republicans are get
. lori: a showdown in washington. sparring over a dead deal. it does not look like either party is ready to budge. where are we now, rich we are still in the middle of a work in progress. that could be a little bit of an understatement. democrats say they want a commitment from her republicans. basically, we are in the same spot. here we are at the 11th hour and the president still is not. about dealing with this issue right here. it is this issue. spending. >> the public posturing continues. there is a questioning today about whether or not we get to the point where tax rates are ready to increase on nearly every taxpaying american. the speaker would not comment. back to you. lori: so frustrating. rich edson, thank you so much for that update. lori: we will be on pins and needles for a while. the voters are sending mixed signals. voters think the best way to deal with the countries deficit problem is mostly with cuts and government spending. majorities say major spending cuts are necessary. that solely raising taxes on the wealthy is not enough. even so, the most popular is raise taxes
right now in washington. >> felony wire fraud for engaging in a scheme to manipulate the libor rate. the company has agreed to plead guilty to this charge. to its criminal conduct and to pay a $100 million fine. ubs ag (company has agreed to pay a penalty of $400 billion to the united states government. combined with roughly $1 billion in regulatory penalties and disgorgement, these criminal fines and penalties bring today's total resolution to approximately $1.5 billion. the nonprosecution agreement illustrates the significant steps ubs has taken to help investigate libor misconduct. and it reflects the department determination to rigorously enforce criminal laws and enforce our willingness to bring criminal charges under these laws when they are supported by the facts. additionally, in a second complaint, two former ubs traders have been charged with conspiracy. one of these individuals has also been charged with wire fraud and and antitrust violation in connection with these activities. to spread false information, they manipulated the benchmark interest rate on which any consume
are watching every move out of washington. the industrials opened higher by 45. the nasdaq would open higher by 10. the s&p 500 would open higher by six. >>> and the fed wrapping up its two-day meeting this afternoon. its latest policy statement is expected at 12:30 eastern. that will be followed by a news conference at 2:15 p.m. the fed is expected to announce a new round of bond purchases as its last program known as operation twist set to expire at the end of the month. we'll have special coverage at cnbc of the decision and ben bernanke's news conference starting at 12:15. we'll talk to steve leaseman live later in the program. >>> another story that you heard about yesterday, the -- you know, violence and death threats and blood and guts. big implications for big labor. that is michigan's decision to become a right-to-work state. thousands of protesters and union members converged on the capitol in lansing yesterday to object to the measure that would bar unions from requiring workers to pay membership dues and to join the union. governor snyder signed the measure into law. >> shouldn't
of different cross currents from what people were hearing yesterday in washington. market well above 100. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl
. leadership void in washington . look who is stepping in to help settle the debate. former governor jeb bush. could it work. >> steve: no police in sight. a mob of protestors tore down a tent with children and elderly people and people with wheelchairs inside. >> two men came in with ski masks and had box cutters. >> steve: that is what happened in michigan a couple of days ago. >> brian: we'll not see commercialism like this anymore? ♪ >> brian: yeah, outlawed because they are just too loud. >> steve: really? >> brian: "fox and friends" starts -- ♪ >> this is the stage manager, ho, ho, ho. happy holidays. you are watching. "fox and friends". >> steve: very nice. >> brian: and joe did not know the news that we found out early this morning. that bralanedwars acquired by the new york jets had a ham string. >> steve: joel is america's biggest jet's fan. >> gretchen: that is insider information. >> brian: he had a bounce in the step. >> gretchen: luckily i know who that is. should we kick off the show with headlines. we now know the identity of the shooter in the mall . he had no history of
-year, and this, when we used to go and see greenspan down in washington, he said everything else you have on your ticker, i need to see the 10 year. i need to see that every morning. nothing has happened in the ten year for the last -- i don't know. it's just not as interesting as it used to be to watch. when it's manipulated, it's not that interesting. >> one of the things about qe is that it's volatility. and you have seen implied vols down in all asset classes, including bonds. >> because things normally are volatile, that just shows us once again this is not letting things -- letting the chips fall where they may. >> yeah. i think it's baked into the cake. >> but i think he's on to something. the fact that the fed is there, the fact that the fed is trying to get ahead of the fiscal cliff and we've got these big bond buying programs. and the last time, remember, in august of 2011 when we had the last showdown, what happened? bonds rallied. >> and you said you want this to be fixed. you almost need the markets to be more volatile than they are. >> that's one of the theories that people have thr
of credit to the fed, perhaps, but also feel the debate shifted yesterday in washington. i began to hear way too many people say, you know what the president is curiously unengaged when it comes to cuts. i have always felt the president had the upper hand in this debate. i listened to bernanke and bernanke says, listen, i know they aren't going to come to deal. i see a lot of republicans on air saying we start to understand what they are they want as cuts. not hearing anything from the president. made me feel grim about the fiscal cliff, good about what the fed wants to do, very grim about the power of the fed, beyond what it's already done. >> the "wall street journal"/nbc news poll of americans about the fiscal cliff, some very interesting findings, just to that point, jim, two-thirds polled want congress to strike a deal and cut the budget, even if that means social security and medicare cuts. so, according to this poll, the people are saying, yes, go ahead, cut entitlements and say that obama has a mandate, among those that did not vote for obama, they have -- that they say that there is
big thing is no vacation without legislation. >> right. >> the "washington post" said as of last night, the halls of the capital were virtually deserted. >> cody's the only guy working there. that's embarrassing, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for
this every time in washington. it gets to people after a while. regular people who just hear about it. even if it does not affect them that much. they just start to think, the government cannot do anything right. say they do. say they cut a deal. they come up with some sort of fiscal cliff solution, if you can call it that. what does the economy look like dead? >> i think that regardless of a solution, i think the economy will pick up. it is like a speed trap. you will slow down to some ridiculous slow speed when you go through that town. once you know what the rules of the roads are, you will come back through a little bit faster. connell: what are the things that we are doing right? >> well, the one area that is really picking up is homebuilding. homebuilding will do better. it will do better next year in a matter what happens in the economy. the inventory of new homes is that in inventory low. even if sales pulled even, construction will pick up. i am trying to balance that optimism with the reality when you look at past recessions, recessions are typically caused by policy mistakes. the
. >> arthel: i'm arthel neville. stalemate in washington with exactly one month to go 'til america is hit by huge tax hikes and spending cuts. finding out where the negotiations stand. >> rick: plus, talk of a republican rebound, we'll speak with some young party leaders who are very enthusiastic about the future and we'll ask them how they plan to prove the republican party is a party for everyone. >> arthel: and as the holidays draw near, we check in on the victims of hurricane sandy. how they're surviving, plus an international story of americans who know all too well what they're going through and are now lending a helping hand. >> rick: we begin with a fox news extreme weather alert out of northern california. they're now being slammed there by another in a series of severe storms that have already killed one person. the region already dealing with flash floods, mud slides, downed trees, power lines. people there say they've never seen anything like it. >> i haven't seen this in many years. this much water running through my property. that water runup should not come on our property.
or the "washington post." 180 degrees. >> what did he mean? >> there's plenty for conspiracy theorists today. ties to all the central banks all around the world, they have these secret dinners every couple of months. as if the fed needed more distrust among fed watchers, right? >> i havend the privilege last r of going to a dinner with fisher, who is crucial -- you look at the diagram. this is just an alumni association that has allowed other people in. this is an m.i.t. thing. fisher is regarded as being the man who saved east asia in the '90s. you know, these guys have been more than upfront that there's a club. i think it's just being written about for the first time. >> yeah. mark, the consensus is $45 billion in monthly purchases of treasuries. that's what's expected. if we don't get that, a lot of market analysts believe that the markets will be extremely disappointed. this off of a string of gains. the first five-day winning streak for the dow since march. the dow, in fact, is at, what, the highest level since october 22nd. s&p the highest level since november 6th, which, of course, was the
with our xaernt washington correspondents. good morning, john. were you up all night? >> not all night, but we stayed on, of course, until 9:00 after it was clear that the house alternative had collapsed. but, joe, i was listening to your conversation earlier. this is not about the far left and the far right. this is about the republican party not being able to get its act together and figuring out and strategy and pursuing a strategy. >> i watched the press conference yesterday. all the reporterses, all the mainstream media reporters were saying, mr. boehner, why are you going through this exercise? this is an exercise in futility. why are you doing this? why even hold the vote? and then he can't do it and now all of you are going, see, see, you can't even do it. >> but it does raise questions about what this means for -- >> joe, it's not about the mainstream media. it's about the inability of this republican party to face the -- face political reality. the president was re-elected. his positions are much more popular where the country than theirs. they are locked into a caucus in the
wins, loses, and, you know, it's the people in washington we're talking about. they are forgetting who they are serving and why they are there. you know, businesses, main street, the markets are all says, look, guys, you dug a $16 trillion hole. the math doesn't work. you cannot tax your way to prosperity, and you can't tax your way out of it. the money is not there. you'd run the government for a matter of weeks if you seized all of the wealth of the wealthy it doesn't work. yove got to have a balanced approach to this thing, and you got to have spending cuts, and in order to do that, you got to haveentitlement reform, and you'd rather have some sort of balanced approach which then describes a longer term aproach now in order to -- forget about politics in order to settle the markets. neil: i'm beginning to wonldzer, i don't think the markets like it either way, but what's your prediction? how do you see it sorting out? >> i predict there might be a deal if there is a deal. i think it's under 50% of any deal, but this deal, if it happens, i think will be a small deal. see some frame w
, listening to that conversation, a few minutes before the opening bell, front page of the "washington post," investors aren't waiting for a deal. they're selling stock, they're trying to sell homes. they're setting up shelters, gifts for taxes. this discussion is not academic by any stretch of the imagination. >> we have to avoid the cliff, period. >> yes, we do. >> we do. to your point, carl, $20 billion in special dividends have been paid out this quarter. some of the economists said this would be a jump of income in the household, payouts to dividends, acceleration into this year. >> becky and jim, who have been doing amazing work on capitol hill, did talk to grover norquist, a bit of a rematch after cramer's appearance a couple of weeks ago with grover norquist. >> obama personally moved it out two years, because he didn't want to raise taxes and damage the economy, because he said the economy was weak. the economy's not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger we could end up with some damaging tax increa
quickly here. john harward in washington here today. thanks a lot. the cheddar, bacon, onion sandwich that boosted sales for mcdonald's in december. >> steve liesman's exclusive interview with richmond fed president jeffrey lacquer. the lone dissenter at every fed policy meeting this year. more "squawk on the street" after this. the . >>> all right. if the sight of this sandwich makes your mouth water, then you are in luck. because the mcrib is back at mcdonald's today. but how much do limited time offers really impact on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but a
disability. how easy can it be? you are about to find out. >> today in washington president obama met with leaders of the indian tribe. they gave him a name running deficit. ♪ ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anothereason more investors are saying... [ all ] i'm with scottrade. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. >> gretchen: big fox news alert for you. you are looking at brad new video this is kit kate middleton and prince william leaving the hospital. the expectant mom was hospitalized f
performed for the president. ♪ ♪ >> gretchen: he gained fame for the christmas in washington special. many are outraged like the mothers of the navy seals. >> performing for the president is disgusting. how do we choose those role models. he should be on a terrorist watch list. it is disgusting to me. >> gretchen: that mother's son mark allenley lee was the first navy seal killed in iraq. it is interesting when you find out things about people when they are famous. that dance craze took over the world. >> steve: i am surprised mr. psy didn't say let me explain what i was talking about. >> gretchen: he did apologize. >> steve: but nonetheless they didn't pull the plug. >> brian: kill their daughters and kill them slowlyy and smash the model of the american tank and called for our men. what do they teach in south korea schools. we are protected them. the checks we right every day to protect them on the dmz line on a daily basis to allow their democracy to flourish, to me this is the niche, niche, niche of all south koreas to feel this way. i would like to find out how americans are treated i
that gives workers the right to not pay dues. >> steve: washington can't find a solution to the fiscal cliff . but someone who fixed budgets in the past know it is simple. >> if i raise taxes again i will have to do it in two or four years . people are going to leave. >> steve: find out how america's mayor did it straight ahead. straight ahead. feel a cold coming on? gretchen, you will be better in no time. we'll drink to that. >> you will be better in no time and all of my teases will rhyme today. "fox and friends" starts right now. ♪ ♪ "fox and friends". >> steve: ho, ho, hompt look who is here today eric boling. >> gretchen: you get your own personal lurch. >> eric: good to be here. >> steve: you will find out how booze, beer and wine can make you healthier. the news we have all waited for. >> gretchen: yeah, a lot of people waking up with a headache. now it makes sense why i drank so much last night. overnight a developing story. a medical chopper went down last night leaving three people dead. the chopper which is reggistered to rock ford memorial hospital it went down in a field .
easily called in sick. ♪ ♪ >> brian: new york giants play the washington red skin and they ended up lose will. i don't want to talk about. giants are 7-5 and redskins 6-6. he was faulted for keeping quiet about the fast and furious. gary grinnler chief-of-staff for eric holder is stepping down, last day tomorrow. steve, something to do with nothing i talked about. >> steve: has to do with the law. they risked their lives to protect our country. >> gretchen: u.s. veterans deemed too mentally incompetent to handle the finances are entered into a national criminal background system. that prevents them from buying or owning a gun. >> steve: should the second amendment right of those veterans be taken away. we'll have to judge andrew napolitano. >> i am upset about the gines. i will do my best. >> steve: in the defense bill, there is a sticky issue of whether or not veterans should be allowed to bear gun. >> the right to bear guns it is a natural right. if you are armed you have a right to defend yourself and your family and country. that is a right and not a gift from the government. you don
. >> peter doocy joins us live from washington with the very latest as we see video of the president hopping on board air force one, right? >> that's right, clayton. president obama popped in to the james brady briefing room at the white house yesterday at about 5:30 and basically said that since the american people in november voted for democratic control of the white house and the senate and republican control of the house. lawmakers need to compromise but he also made clear as of right now when it comes to the fiscal cliff and avoiding it, there is no deal. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. enjoy company of loved ones. and then i would ask every member of congress while they're back home to think about that. think about the obligations we have to the people who sent us here. think about the hardship that some americans will endure if congress does nothing at all. >> it was just a few minu
. and our steve leesman is one of the lucky few who gets a question and he joins us now from washington. this is really something that not a lot of people expected, steve. >> i think that's right, tyler. and it is absolutely historic. fed for the first time putting economic targets around its funds rate projections and first of all, the other news was that it did end -- it said it would end to replace that so that brings the monthly purchases of long-term assets to $85 billion. i want to show you some math. the current level of the math call it 2.8 trillion. add a trillion to that, you will be at 3.8 trillion if we do go at this pace for a full year here. the precrisis level is $800 billion. i want it put it another way, tyler. increase the balance sheet from '09 to '12 by a trillion dollars. we will do that in one year. aggressive policy from the fed. unaggressive as tyler mentioned the idea of using economic targets for funds rate. we know they were talking about it. we know there was support. we didn't think the federal reserve had unanimity enough to do this. only jeff lacker from r
in the washington post today calls for an end or at least limits on the deductible for charitable deductions. overwhelmingly the deduction benefits of the wealthy and the rest of the country has to make up the gap. of course it benefits the wealthy,,but not as much as it benefits the charity is my point. and the president's proposal includes, this is the president higher taxes on wealthy for income dividends, and a slew of new taxes as part of obamacare. >> here is what speaker boehner said on taxes. >> the day after the election, i the cameras and made clear that republicans were willing to ut revenue on the table if there were serious spenddng cuts and reforms put in place. we've talked about them. the president and the white house have had three weeks and this is the best we've got? >> so, it's all taxes and all raising taxes, no worries, there are serious proposal or even talk about reforming entitlesments, talks have gone nowhere, we're weeks from january 1st the fiscal cliff deadline. at least we're not stuck on the road to moscow. take a look at video out of russia, thousands of driv
out of washington. but before we get to that, why don't we start with our day anticipates top story. the i.c.e. and the nyse are in talks. the numbers put the price tag at about $8 billion. >> we watched this -- now, you said you were watching this last night with kudlow, right? >> i did. >> did you think david faber? did you think when was book ending? on this, it went up last night. i don't know why this chart is showing no movement. it went up six points. >> yeah, right. >> that wouldn't even bring those -- because we watched. faber was talking about that last night. >> maybe if we show the prior day. >> that was the prior day. >> there's a glitch or something. >> that was the prior day that didn't show the after hours trading card. it was right about 720 been i think, wasn't it? >> and all this followed and it's a big story. >> well, it is. it's interesting because it's nyse euronext. >> and this isn't the first time that i.c.e. did this. >> no. you will are ebb that i.c.e. made a joint unsuccessful bid for control of the nyse last year. when the two withdrew their offers, they
christmas in washington, do they? >> you have thursday, friday and monday, right? >> you have a lot of aides prepared to come back after christmas to try and make sure they're not too far away from d.c. it does look encouraging. you've had movements on both sides. you've had boehner indicating that he's willing to accept and rising tax rate for the wealthiest. at the same time, you've had the president scaling back the limit to which those tax rates go up the. >> and they're not arguing about idealogical points any more. >> exactly. >> and what about the debt ceiling? do you think this gets thrown to the mix or not? >> well, i think the white house knows very strongly that as far as the markets are concerned, they want to try and get some kind of clarity for the next few months. after the last couple of years, no one really trusts the government or trusts the administration to not have a series of crisis and tiptoeing to the edge. so my bet is they will try to get some sort of deal. >> who has more trouble convincing the people they need to sign off? boehner could get enough with democrats a
in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the same in either one. that's not -- what reid and i guess pelosi, you saw that, said she opposes the million-dol
alexander young, he went to washington d.c., and came back home with some bacon. stuart: well, you heard the rest from there. the lady goes on to say it's a quid pro quo give us the monny because we voted for you. the question, will the president offer any hint of a bailout, bailout help for deeroit today. will he address union anger at michigan's right to work legislation? this goes to the heart of government spending and the position of organized labor in president obama's second term. we're right there in michigan. let's go to facebook. weigh in on what's happening there. will detroit get a bailout and what do you think about the unions? will they win? good questions all. now, one of the worst blowouts in nfl history. seattle seahawks beat arizona cardinals 58-0. the cardinals threw four interceptions fumbled four times and gained 154 yards and seattle undefeated at home and then there's this. the new york giants scored only 52 points in the win over the new orleans saints. the star was the rookie and he returned the kick off for touchdown and all purpose yards and kept the giants in
. that is not enough to close the gap . washington post on the editorial page. we looked at what the president suggested and republicans suggested it is nice that they are starting to talk. but the numbers have to be a lot bigger . you need real tax reform. >> gretchen: he won the election with that argument. >> steve: republicans won the congress with their argument that they didn't want to raise the rates. >> brian: if you want to know what the president things. you can go flip channels and find out about the briefing and the president's stance on taxes and goal with the economy and maybe what he will say in the inauguration. look who was invited to the white house >> chris: who was left to run msnbc. >> happy and ed and arihanna huffington. i don't know if the white house released the fact. but someone from the blog sites saw it. and so wait a minute what is going on. yeah, we were invited for not a strategy but just to explain. >> gretchen: i don't know why anybody. >> brian: five talk show hosts in from the same channel? that is outrageous. >> gretchen: it might be outrageous. i am not su
are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're kicking off the month of december with strength. anticipating good auto numbers today. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even
-day strike. a major one-day march on washington for jobs and justice. >> sean: the prospectsave civil war, nationwide strike and the death threats leveled at governor rick snyder. one read, i want to shoot governor snyder in his eye. another lists the names of the family members saying, you blank our families, we kill yours. joining me with reaction, good to see you, both. good to see you with us. union violence is not new. we have seen it before. up on violence, we chronicled that. g-8, j-20, all of these summits. you see the radical left. the tea party, they are putting their hands over their hearts, pledging allegiance, singing "god bless america" and cleaning up after themselves. and the media tries to play up things that didn't happen. why is there the double standard and what do you say to the violent people on your sideanism viseen violent people on your side, sean. >> sean: who? >> i remember during the affordable care act legislation, before it was passed, death threat it's. >> sean: where? >> what do you mean? on voice mail of congressional democrats. some of them left being in
. timothy depite gite saying we'll raise taxes 1.6 trillion and washington will increase taxes on capitol gains and we would like to say we like the power to raise the debt ceiling any time we want for the executive branch which is unconstitutional. >> steve: it is not 39 or 35 percent. all nonstarters in the world of negotiation. >> gretchen: two things to discuss. why is it tim geithner doing the discussions inted of the president of the united states. let me know if you have an answer for that. and the reason they are asking for this stuff. this is the way negotiations work when you win the presidency. you are walking around with your chest puffed up. this week, nothing will happen. until you cum come up right to the cliff. >> brian: this president is making a mockery of negotiations. he offered a initial trike with under 30 days until the cliff happens . sos the unserious attempt to get anything done. republicans ippedicated we will raise revenue. but the nuggets that are inside and his decision to go to pennsylvania and talk to a tinker toy and scrooge and coal in your pocket is an i
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